Mortgage Magic Features
The Most Detailed Mortgage Software on the Web- Computes Mortgage Costs
- Mortgage Approval Viability
- Amortization Schedules
- Side-by-Side Mtg Comparison
- Scenario Cost Comparisons
- Budgeting Tool
- Buyer's Checklist
- Closing Cost Checklist
Mortgage Magic Overview
Mortgage Magic is a first-of-its-kind software tool that provides a detailed mechanism for calculating Total mortgage costs, viability for mortgage approval, provides detailed amortization schedules, provides a mechanism to save and compare a multitude of scenario costs, provides a monthly/annual budgeting expense tool, and provides both buyer's and closing cost checklists.
Mortgage Magic Detailed Product Features
| Feature | Included |
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 Updated with current rules and formulas |
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| Determines Mortgage Qualifying Ratios # 1 and # 2 |
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| Calculates PITI (Mortgage Payment + Taxes + PMI + Homeowner's Insurance |
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| Calculates PMI (Private Mortgage Insurance) and provides user-defined thresholds |
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| Calculates FHA Loan Amounts and Closing Costs |
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| Calculates Total Closing Costs (soup-to-nuts) |
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| Calculates Mortgage based on downpayment, interest rates, terms, and loan amount |
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| Calculates Total Cash Requirement to close on home |
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| Variable Closing Cost Items that can be overwritten |
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| Full Amortization Schedule |
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| Amortization Schedule with extra monthly payments |
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| Side-by-Side Mortgage Comparison with Amortization Schedule comparison |
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| Save 500 Scenario Cost Comparisons |
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| Scenario Cost Comparison itemized by 12 different fields |
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| Scenario Cost Comparison with 3 user-defined fields |
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| Full Budgeting Tool that compares Expense items versus Revenue items |
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| Budgeting Graphic Tool compares Monthly Expenses and Monthly Revenue |
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| Detailed Buyer's Checklist |
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| Detailed Buyer/Seller Closing Cost Checklist with Definitions |
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| Online Instruction Manual |
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| Context-sensitive help on every screen |
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| Works with any version of Microsoft Windows and Microsoft Excel |
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| And much, much more |
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